XML 45 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1
STOCKHOLDERS' EQUITY (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]    
Schedule of restricted stock granted  

The restricted stock granted and exercisable at December 31, 2016 is as follows:

 

      Restricted Stock Granted     Restricted Stock Vested  
Grant date Price     Number
Granted
    Weighted
Average
Fair Value per
Share
    Number
Vested
    Weighted
Average
Fair Value per Share
 
$ 0.10       2,880,000     $ 0.10       2,880,000     $ 0.10  
$ 0.10       1,440,000     $ 0.10       1,440,000     $ 0.10  
          4,320,000     $ 0.10       4,320,000     $ 0.10  
Schedule of fair value assumptions  

The fair value of Warrants issued were valued at $0.464 per share using the Black-Scholes pricing model and the following weighted average assumptions were used:

 

    Year ended
December 31,
2015
 
       
Calculated stock price   $ 0.875  
Risk-free interest rate     1.38% to 1.74 %
Expected life of warrants (in years)     5  
Expected volatility of the underlying stock     159.5 %
Expected dividend rate     0 %
Schedule of warrant activity  

A summary of warrant activity during the period January 1, 2015 to December 31, 2016 is as follows:

 

   

Shares
Underlying

Warrants

    Exercise
price per
share
    Weighted
average
exercise
price
 
Outstanding January 1, 2015     -     $ -     $ -  
Granted     6,219,200       0.625       0.625  
Forfeited/Cancelled     -       -       -  
Exercised     -       -       -  
Outstanding December 31, 2015     6,219,200     $ 0.625     $ 0.625  
Granted     -       -       -  
Forfeited/Cancelled     -       -       -  
Exercised     -       -       -  
Outstanding December 31, 2016     6,219,200     $ 0.625     $ 0.625  
Schedule of exercise price range of warrants

The warrants outstanding and exercisable at March 31, 2017 are as follows:

 

    Warrants Outstanding   Warrants Exercisable 
Exercise
Price
   Number
Outstanding
   Weighted
Average
Remaining
Contractual
life in years
   Weighted
Average
Exercise
Price
   Number
Exercisable
   Weighted
Average
Exercise
Price
   Weighted
Average
Remaining
Contractual
life in years
 
                                 
$0.625    6,219,200    3.51   $0.625    6,219,200   $0.625    3.51 

The warrants outstanding and exercisable at December 31, 2016 are as follows:

 

      Warrants Outstanding     Warrants Exercisable  
Exercise
Price
    Number
Outstanding
    Weighted
Average
Remaining
Contractual
life in years
    Weighted
Average
Exercise
Price
    Number
Exercisable
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
life in years
 
$ 0.625       6,219,200       3.75     $ 0.625       6,219,200     $ 0.625       3.75  
                                                     
          6,219,200             $         6,219,200     $